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In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been ….Why did Germany switch to gold and set the train of destructive events in motion? Both a review of the contemporaneous debate …, which would have severed the link between gold and silver currencies. Without reform, Germany would thus have risked …
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Germany is an undervaluation regime, a regime that steers economic behavior towards deterioration of the real exchange …
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Since the September 1985 Plaza Hotel announcement by the Group of Five industrial countries, a substantial realignment of exchange rates has been achieved. At the same time, foreign exchange market intervention, much of it concerted and much of it sterilized, has been undertaken on a scale not...
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This paper explores the main channels of international transmission of economic disturbances under the Bretton Woods System and presents evidence on the short-run international transmission of inflation under that system. There appears to have been little short-run international transmission of...
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